What Ridesharing on Halloween Can Teach You About Incentives

This article was written on October 28th 2016. It was written by Lydia Belanger and I found it on entrepreneur.com. What this article oes on first to explain is that it goes on to explain how some days are busier than others in the year as we know with a few examples being New Years and Halloween. If we really dive into the really meat and potatoes of the article we can see that it is all about what most people that work for carpool companies prices rise and fall. It explains how during Halloween most prices for carpooling companies will rise since the demand for carpools higher due to the amount of people needing to be carpooled. It is actually quite interesting because it is interesting to look and see how if it is not for a certain holiday or special occasion how they wont pay for a higher fare. But other than that this is a prim example about how a holiday can really affect the supply and demand curve because due to it being a special holiday the demand for carpooling is higher so in order for the carpool companies to try to make a little for money they will raise the price because they already know that people are really going to need a carpool. Also what these companies will do is that they give drivers certain incentives. They article used the example "do you want and Halloween treat?" It the went and listed a bunch of different promotions that drivers can achieve by meeting certain criteria in terms of the driving hours or how many rides they do. So what this does is that in gets more drivers on the road so that they can pick up more passengers to increase the amount that they might get out of doing it. How this relates to the world today is that life is full of incentives and sometimes people will be really willing to go out of their way and try to do what ever they can do try to get something out of those incentives. Also it shows how supply and demand can change by there just being a holiday.

https://www.entrepreneur.com/article/284288   

I Paid $2,500 for a ‘Hamilton’ Ticket. I’m Happy About It.

This Article was written by N. Gregory Mankiw on October 21st 2016. Where I truly feel where this article shines is where it demonstrates what people will do to go see are hear something they love. I know that in class we have been talking about what people buy things for whether it be between the  fact that it cost too much or that it is something that we realyy love and we can not go a day without getting it, in the case it is Hamilton. Also this rally shows how popularity can drive the price of a product. In the article it states that the mother bought the tickets of of Ebay and due to the the price of those tickets got marking up into the sky. The popularity of a product can ultimately determine how much that product and at the same time if a product is not as popular the price of that product will fall mainly due to the fact that people do not want to spend money on something that they do not want to go and see. But also the economic status of a lot of consumers can also play a role in what the consumer will buy and what the consumer will not buy. Say if someone is poor and is not able to make a stable income out of their job, then of course they are not going to go out and waist their money on Hamilton tickets because they have to pt the priorities elsewhere. I feel as thought that this article is aimed towards just the general public as a warning into what is trending. I personally feel that i could not spend 2,500 dollars to see Hamilton mainly because I am just not really that interested to go see it. It really relates to this world today because it shows how much much we as humans would really be willing to give up to make such a big purchase on ourselves. It really gets to to stop and wonder, what to the American people really want to put their priories into. But at the same time coming form and artistic stand point I can completely understand why some people would be willing to go to those extremes at times. It is really a complicated topic.

 http://www.nytimes.com/2016/10/23/upshot/i-paid-2500-for-a-hamilton-ticket-im-happy-about-it.html?ref=economy&_r=0

All-You-Can-Eat Buffet Economics

This Article is written by Elane Schwartz and I found it on econlife. It was written on January 5th of 2015. It is called All-You-Can-Eat Buffet Economics. In this article it goes on to explain how Demand adn Marginal Utility works in a Italian Buffet in New York City. I t goes on to explain later in the article that the people who paid less to eat at the Buffet were less satisfied with what they ate and gave the food a lower rating. The it describes diminishing marginal utility by saying that we tend to enjoy something the first time we get it then after that we start to enjoy less and less of the that one item. I feel that the authors point of view from this article is that even thought we might pay less for something does not really mean that we are going to feel absolutely satisfied with what we have. It even demonstrated that the people that payed 8 bucks instead of 4 bucks ended up enjoying their dinner more than the people that paid 4 bucks but the people that paid 4 ate more pizza than the ones who paid 8. From what I know from previous knowledge about Diminishing Marginal Utility if I there is a sale on reeds and they are really inconstant out of the box and I have to constantly work on them to get them to sound any better, it might have been worth it to by the more expensive reeds so that I would not have to go through the struggle of having the get them to play and i could spend more time trying to make music instead of worrying if I can get a sound or not. I feel as though this article was written beacuse in our lives today we live in a world if we can get the same product but for a cheaper price that we will be happier. But that is not always the case because typically when something is buys one get two for free or there is a product the same as another one but for a cheaper price that means that there is something wrong with that product. So most of the time it is not always a bad idea to go on ahead and buy that more expensive product so that you can get the most satisfaction out of that product.    http://econlife.com/2015/01/diminishing-marginal-utility-of-pizza-at-a-lunch-buffet/

THE IMMIGRANT ENTREPRENEURS BEHIND MAJOR AMERICAN COMPANIES

This article is written by Takara Small on September 28, 2016. I found this article on Freeenterprise.com. In this article although it is rather brief it goes on to show how most of Americas big industries/businesses were not actually from our own soil, they were actually from other countries that came to America to set out to create their business in the "land of opportunity". It is honestly pretty crazy how so many things that we use every single day of our lives like Google was invented by someone from another country. Yet in this world we are saying that should not be here in the first place. In my mind the best thing that America has is its diversity among one of Americas biggest pros. I really gets people to get accustomed to other cultures without having to leave home even though it might not be the most authentic in the world it is still something. Another crazy thing about this article is that in America rght now in specifics we are always talking about how we need to create as many jobs as we can for the American people. Well we can clearly see in this article that is the least of our worries. If we look at how many employees work at Google right now it is 53,000 employees and that is based in San Francisco California. The was the I truly is that the amount of diversity that comes to America to create these jobs is incredible and the fact that there are some people out there that do not support it and want to get rid of all the immigrant entrepreneurs coming to America and creating jobs for the American people is just sad. Some will argue that the American should be trying to make jobs for the American people but what I say to that is that there is a lot of talk and not a lot of doing from the American people and that is were I think we lack in terms of a country is the concept of creating jobs for ourselves.  https://www.freeenterprise.com/immigrant-entrepreneurs-behind-major-american-companies/